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In the financial industry, there are many regulations in place to ensure that client money is being properly recorded, stored, and used by financial institutions. Most banks employ a compliance coordinator in order to audit the day to day activities of the bank. Coordinators, depending on the size of the bank or branch, may have a number of bank activities to review, or just a single aspect of the bank to review. Either way, compliance coordinators must be adept at gathering, analyzing, and reporting on vast amounts of data, quickly, and without error.

Compliance coordinators spend a great portion of their time gathering relevant data not only within the bank, but also from outside reporting sources. If there is a particular issue with a customer account, for example, information would need to be compiled both from bank sources and from the customer himself. This information is then compiled and analyzed by the compliance coordinator. Coordinators must have the ability to quickly assess data and determine whether or not it meets the bank’s compliance standards. This means that coordinators must have a clear understanding of these standards at all times.

Once a determination is made as to whether or not a particular issue meets compliance standards, the report must be made for a manager, who can then determine the best path forward. Coordinator input is very important when it comes to how banks should handle disputes and internal issues. Only coordinators will have a full understanding of the seriousness of an error or deliberate action, and therefore are uniquely qualified to assess what action should be taken.

Compliance coordinators must also stay apprised of any developments in local or national legislation which may affect how the bank does their business. Though some institutions may require an associate’s or bachelor’s degree, most prefer candidates to have leadership and financial experience over any other kind of qualifications.

The main aspects every compliance coordinator should have is integrity and strict adherence to ethical regulations. Compliance coordinator is currently highly ranked in the Best Business Jobs and 100 Best Jobs categories by U.S.News, because of low unemployment and high salary.